Former Citi Employee Chris Cecere Rehired Despite LIBOR Involvement
- Ex Citi employee Chris Cecere has been rehired by Brevan Howard Asset Management LLP, following his departure and involvement in manipulating the London Interbank Offered Rate (LIBOR) just two years ago.
Ex Citi employee Chris Cecere has been rehired by Brevan Howard Asset Management LLP, following his departure and involvement in manipulating the London Interbank Offered Rate (Libor Libor Libor stands for London Inter-bank offered rate. It is an industry-specific term which most of us would never have heard of until the "Libor scandal" became popularized in 2012. Libor is considered to be one of the most important interest rates in finance, upon which trillions of financial contracts rest. The Libor rate effects over $800,000,000,000,000 in financial deals. Banks simply cannot lend money to one another whenever they like as there is a system in place. Every day a group of leading Libor stands for London Inter-bank offered rate. It is an industry-specific term which most of us would never have heard of until the "Libor scandal" became popularized in 2012. Libor is considered to be one of the most important interest rates in finance, upon which trillions of financial contracts rest. The Libor rate effects over $800,000,000,000,000 in financial deals. Banks simply cannot lend money to one another whenever they like as there is a system in place. Every day a group of leading Read this Term) just two years ago.
The LIBOR scandal that triggered a series of probes and record fines still remains fresh in the minds of regulators – this is perhaps more so applicable Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term trader Chris Cecere, formerly under investigation by Japanese regulators back in 2011. Following a lengthy investigation, it was determined that Mr. Cecere was indeed involved in the attempted manipulation of the yen-denominated LIBOR rate, during his time at Citigroup.
Mr. Cecere originally has roots at Brevan Howard since 2010, when he joined its Geneva office following his voluntary departure from Citigroup. Since then he had moved to Element Capital Management LLC, before ultimately rejoining Brevan Howard. At the time of his departure from Citigroup, Mr. Cecere was not under investigation or questioned, and left with full bonus.
Ex Citi employee Chris Cecere has been rehired by Brevan Howard Asset Management LLP, following his departure and involvement in manipulating the London Interbank Offered Rate (Libor Libor Libor stands for London Inter-bank offered rate. It is an industry-specific term which most of us would never have heard of until the "Libor scandal" became popularized in 2012. Libor is considered to be one of the most important interest rates in finance, upon which trillions of financial contracts rest. The Libor rate effects over $800,000,000,000,000 in financial deals. Banks simply cannot lend money to one another whenever they like as there is a system in place. Every day a group of leading Libor stands for London Inter-bank offered rate. It is an industry-specific term which most of us would never have heard of until the "Libor scandal" became popularized in 2012. Libor is considered to be one of the most important interest rates in finance, upon which trillions of financial contracts rest. The Libor rate effects over $800,000,000,000,000 in financial deals. Banks simply cannot lend money to one another whenever they like as there is a system in place. Every day a group of leading Read this Term) just two years ago.
The LIBOR scandal that triggered a series of probes and record fines still remains fresh in the minds of regulators – this is perhaps more so applicable Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term trader Chris Cecere, formerly under investigation by Japanese regulators back in 2011. Following a lengthy investigation, it was determined that Mr. Cecere was indeed involved in the attempted manipulation of the yen-denominated LIBOR rate, during his time at Citigroup.
Mr. Cecere originally has roots at Brevan Howard since 2010, when he joined its Geneva office following his voluntary departure from Citigroup. Since then he had moved to Element Capital Management LLC, before ultimately rejoining Brevan Howard. At the time of his departure from Citigroup, Mr. Cecere was not under investigation or questioned, and left with full bonus.